RBA
Global economic body weighs in on Australian rate rises
3 June
A global economic body is urging the Reserve Bank not to raise interest rates again unless inflation expectations become untethered. As the economy slows as a result of the global energy shock, the central bank may even be required to cut interest...[Read More]
Labor shrugs off claim tax shift will sink house prices
3 June
Contentious changes to taxes on property investments won’t be the main driver of expected falls in prices, the housing minister says. As auction clearance rates hit lows not seen since the COVID-19 pandemic, Clare O’Neil said it was unclear how...[Read More]
Jobless jump, Iran war shoot down fears of rate rise
27 May
The likelihood of a rate hike in June has shrunk after a surprise jump in the unemployment rate showed the Iran war is having a material impact on Australia’s economy. While bad news for workers, the rise in the jobless rate from 4.3 per cent to...[Read More]
Rates revelation: why RBA dissenter voted against hike
20 May
The Reserve Bank’s lone dissenter against a rate rise argued interest rates were already high enough to get inflation back under control, before being overruled by the rest of the central bank’s board. Minutes of the May 5 meeting, released on...[Read More]
Budget spending stokes fears of further rate rise pain
13 May
Treasurer Jim Chalmers is defending an extra $18 billion in government spending next financial year despite warnings it will make the Reserve Bank’s fight against inflation harder. The federal budget on Tuesday revealed government spending will...[Read More]
Third RBA rate hike might not be the end for borrowers
6 May
As mortgage holders count the costs of a third straight rate hike, economists warn there could be more pain to come after a hawkish Reserve Bank decision. The central bank’s monetary policy board voted in a split 8-1 decision to raise the official...[Read More]
Treasurer hoses down talk of big budget handouts
6 May
Treasurer Jim Chalmers has downplayed the Reserve Bank governor’s warnings about public spending adding to inflation, insisting large stimulus packages won’t be a feature of the federal budget. After lifting interest rates for the third...[Read More]
Inflation, growth, rates all hinge on end to conflict
6 May
The crisis in the Middle East fanned the flames of already buoyant inflation in Australia and could lead to more interest rate pain if it isn’t resolved, the central bank has warned. The Reserve Bank of Australia released fresh quarterly economic...[Read More]
Oil crisis not over: warnings of diesel over $4 a litre
6 May
Diesel prices could surge above $4 a litre in coming months under a scenario modelled by economists at National Australia Bank, potentially spelling a much more severe economic fallout than forecast by the Reserve Bank. Fears of service stations...[Read More]
Worse to come as oil crisis adds fuel to rate-pain fire
29 April
Australia’s headline inflation rate has climbed to a two-and-a-half year high due to the Iran war but Treasurer Jim Chalmers warns the worst is yet to come. The jump in the Australian Bureau of Statistics’ annual consumer price index, to 4.6 per...[Read More]
Warning for borrowers as RBA frets over its credibility
22 April
Australia could be heading back to the runaway inflation of the 1970s and 1980s if people lose faith in the Reserve Bank, a top central bank official says. Speaking at a panel of economists during the International Monetary Fund spring meetings in...[Read More]
Australians love their cash and will carry or hoard it
22 April
If you are one of those people who still carry a bunch of $10 or $20 notes around in your pocket in case of emergencies, you’re not alone. While a majority of payments made in Australia are done by electronic means, including cards, about half of...[Read More]
RBA’s stagflation nightmare: prices up, confidence down
15 April
The Reserve Bank board will have to earn its money to navigate Australia through a “nightmare” stagflation shock, a top central bank official says as confidence tanks and prices soar. The RBA was still “feeling its way” through the energy...[Read More]
RBA to sift through jobs data as world watches Hormuz
15 April
Economists will turn their attention to Australian jobs figures this week but the focus will still largely remain on developments in the Middle East. March labour force figures, set to be released on Thursday, will effectively be the first batch of...[Read More]
Credit card points schemes in firing line after tweaks
8 April
Overseas trips and hotel stays funded through credit reward schemes could be in trouble as Australia’s central bank cuts fees on card transactions. The Reserve Bank has revamped card usage by banning surcharge payments and cutting interchange...[Read More]